1521 New Castle St · Savannah, GA 31415

$60,000

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records

Built 1947 2,831 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Serious investors and savvy buyers, this is the opportunity you've been waiting for. This 3-bedroom, 1-bath home sits just minutes from the Georgia Ports Authority, the vibrant energy of Downtown Savannah, and the iconic charm of River Street one of the most desirable corridors in the city. The enclosed screen porch is perfect for enjoying Savannah's beautiful seasons, while the fully fenced yard offers privacy, space, and endless possibilities. The home needs work and is priced accordingly, making it a fantastic chance to flip, rent, or renovate into your dream home — the bones are here and the location is unbeatable. Whether you're looking to build instant equity or plant roots in o

Key facts

• 2,831 sq ft lot
• Built 1947

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 25.7% vs local median 4.0% in Savannah — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 86/100 on livability (#1 in GA, #397 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: employment D, schools F.
• Savannah-Chatham County (urban): math 20% / reading 26% proficiency, ranked #134 of 174 in GA (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 76 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,694 units permitted in Chatham County in 2024 (973 in 5+ unit buildings).
• At $1,717/mo this rent would consume 56% of the median local household income ($37k/yr) (locally 613% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Chatham County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.86% ✓
• Cap rate: 25.70%
• Cash-on-cash: 69.32%
• DSCR: 4.08
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $239,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1725 Dunn St	0.29mi	3/2.0	1,180 (+7%)	2mo	$260,000	$220	69
275 Scarborough St	0.46mi	3/2.0	1,120 (+2%)	4mo	$244,500	$218	68
207 Cleland Ave	0.48mi	3/2.0	1,118 (+2%)	4mo	$140,000	$125	68
2016 Eppinger St	0.29mi	2/2.0 (-1)	1,018 (-8%)	1mo	$210,000	$206	64
8 Newell St	0.59mi	3/2.5	1,114 (+1%)	3mo	$265,000	$238	62
2102 Patch St	0.32mi	3/1.0	960 (-13%)	4mo	$115,000	$120	61
2011 Gugel St	0.30mi	2/1.0 (-1)	960 (-13%)	4mo	$220,000	$229	57
17 Nelson St	0.65mi	3/2.0	1,122 (+2%)	11mo	$220,000	$196	54
227 Glass St	0.53mi	2/1.0 (-1)	1,000 (-9%)	5mo	$299,000	$299	51
1600 Damon St	0.56mi	3/1.0	1,224 (+11%)	6mo	$165,000	$135	50
2108 Krenson St	0.65mi	3/1.0	1,224 (+11%)	9mo	$82,500	$67	43
4 Bardwell Way	0.73mi	3/2.0	1,256 (+14%)	3mo	$289,190	$230	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 68.8%
• Equity multiple: 4.10×
• Total profit: $52,093
• Equity at exit: $8,946

10-year hold

• IRR: 72.9%
• Equity multiple: 8.44×
• Total profit: $124,982
• Equity at exit: $5,188

Cash invested: $16,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 31415

• Home prices YoY: -21.4%
• Active inventory: 76
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,717 high
• Mortgage (P&I): −$315
• Tax from tax record: −$46 /mo · $556/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $970

Break-even live

Break-even rent $489

Max offer price $60,000

Occupancy floor 38%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1416 Chester St Savannah, GA	3.0	1.0	960	$1,600	$1.67	23d	1	0.16mi
1402 New Castle St Savannah, GA	2.0	1.0	928	$1,500	$1.62	43d	1	0.17mi
226 Fell St Savannah, GA	3.0	1.0	1025	$1,695	$1.65	21d	1	0.22mi
2009 Eppinger St Savannah, GA	3.0	2.0	1144	$1,500	$1.31	23d	1	0.28mi
2023 Gugel St Savannah, GA	3.0	2.0	1008	$1,900	$1.88	43d	1	0.34mi
120 Jenks St Savannah, GA	3.0	1.0	1042	$1,600	$1.54	43d	1	0.35mi
2014 Lewden St Savannah, GA	3.0	1.0	1164	$1,600	$1.37	23d	1	0.39mi
40 Eagle St Savannah, GA	1.0–2.0	1.0	841	$1,331	$1.58	23d	6	0.41mi
206 Ferrill St Savannah, GA	3.0	1.0	936	$1,450	$1.55	14d	1	0.48mi
1325 Exley St Savannah, GA	3.0	2.0	1327	$1,156	$0.87	43d	2	0.48mi
1325 Exley St Savannah, GA	2.0–3.0	1.0–2.5	1193	$1,432	$1.20	21d	6	0.48mi
17 Dutton St Savannah, GA	3.0	1.0	990	$1,650	$1.67	14d	1	0.53mi
808 Wexler St Savannah, GA	3.0	1.0	1204	$1,500	$1.25	43d	1	0.62mi
911 Crosby St Savannah, GA	3.0	2.0	1116	$2,000	$1.79	43d	1	0.84mi
1013 Carroll St Savannah, GA	2.0	1.5	768	$1,400	$1.82	43d	1	0.87mi
905 Elliott Ave Savannah, GA	2.0	2.0	1032	$1,800	$1.74	43d	1	0.89mi
1520 Audubon Dr Savannah, GA	3.0	2.0	1325	$2,000	$1.51	23d	1	1.10mi
1437 Audubon Dr Savannah, GA	3.0	1.0	925	$1,575	$1.70	43d	1	1.16mi
646 W Bay St Savannah, GA	2.0–4.0	2.0–4.0	1341	$1,684	$1.26	13d	11	1.28mi
601 Indian St Savannah, GA	2.0	1.0–2.0	816	$3,521	$4.31	13d	19	1.38mi
630 Indian St Savannah, GA	2.0	1.0–2.0	824	$3,125	$3.79	13d	17	1.39mi
540 Selma St Savannah, GA	2.0–5.0	2.0–5.0	790	$1,112	$1.41	23d	1	1.40mi
3508 Haslam Ave Savannah, GA	2.0	1.0	988	$1,395	$1.41	23d	1	1.43mi
555 Berrien St Unit N Savannah, GA	2.0	2.5	1487	$3,300	$2.22	43d	1	1.44mi
528 Selma St Unit B Savannah, GA	2.0	2.0	974	$2,625	$2.70	14d	1	1.46mi

Listing history 2 events

1. 2026-06-13
   remarks 693-char remark
2. 2026-06-13
   listed $60,000 Pending

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $556 · $46/mo
• Projected year-2 tax: $556 · $46/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,604
• − Mortgage interest: −$3,361
• − Property taxes: −$556
• − Insurance: −$300
• − Repairs & maintenance: −$1,648
• − Management: −$1,648
• − Depreciation: −$1,745
• Taxable income: $11,345
• Est. tax owed @ 24.0%: −$2,723
• After-tax cash flow: $8,922/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Savannah-Chatham County
• NCES district ID: 1301020
• Math proficiency: 20% ▼ -11.00%
• Reading proficiency: 26% ▼ -5.00%
• Median HH income: $47,443
• Composite: 20.14/100
• National rank: #8639
• State rank: #134 of 174 in GA

Livability — Savannah

• Score: 86/100
• State rank: #1
• US rank: #397

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime A+ Employment D Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Savannah, GA
• County: Chatham County · 271,602 people
• City population: 216,564
• Metro: Savannah, GA
• Population (ZIP): 11,082
• Household income: $37,109
• Rent vs Own: 56.1% rent · 43.9% own
• Severe rent burden: 613.0

Population outlook (Chatham County) Hauer SSP2

• Today (2025): 332,584 people
• By 2030: 355,508 · +6.9%
• By 2040: 400,030 · +20.3%
• By 2050: 443,019 · +33.2%
• By 2075: 534,579 · +60.7%
• By 2100: 583,863 · +75.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (89%)
• Race & ethnicity: Black 89% White 5% Hispanic / Latino 5% Two or more races 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Chatham

• 2024 margin: D (+18.0) · D 58.6% · R 40.6%
• 2008→2024 swing: +3.6pp toward D · 2008: 14.4pp · 2024: 18.0pp
• All cycles: 2024: D+18.0 2020: D+18.8 2016: D+14.5 2012: D+12.0 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.36%
• Current HPI: 203.0696
• Rent YoY: —
• Metro: Savannah, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Property tax history

+2.1%/yr

Latest (2025): $556 · +28.6% YoY. Source: county tax records.